Cydia

No, there isn't a family guy USTREAM channel, I just couldn't resist.
Earlier this month, we had discussed the new Video Broadcasting iPhone app called 'Knocking' that brought live streaming to the iPhone. Despite being one of the first to enter the AppStore with streaming video, it was only able to do iPhone to iPhone broadcasting. Unfortunately we learned that it was somewhat of a disappointment, considering it hardly ever worked right.

If you've had a Jailbroken iPhone for awhile now, you may recall the USTREAM apps that had been available via Cydia. These apps were eventually pulled from Cydia and we had seen no activity since. Today, USTREAM has released an official App, available now in the AppStore, that enables live broadcasting from you iPhone to the USTREAM's web service.

The iPhone app gives you the option to both stream live as well as share video as a recording. The app works via both 3G and Wi-Fi, and it even works on both the iPhone 3G and 3GS. It's a little laggy on the 3G, which is expected, but it works flawlessly. (Well almost, the audio is a little bit delayed, again this is on the 3G so it might be better on a 3GS.) You also have the ability to tweet your videos, share on facebook, and participate in live chats for your broadcast. USTREAM has said to be working on adding more social features to the application soon.

Ustream, established March 2007, is a website which consists of network of diverse channels providing a platform for lifecasting and live video streaming of events online.[3] The website has over 2,000,000 registered users who generate 1,500,000+ hours of live streamed content per month with over ten million unique hits per month. It received $11.1 million in Series A funding for new product development from DCM and investors Labrador Ventures and Band of Angels.

USTREAM these days, is more known for its live broadcasts of shows like Diggnation and the Brian Bushwood Show. More and more celebrities are using USTREAM now as well, such as Bands, Artists, Actors, MTV Icons, and so on, drawing anywhere from 2,000-80,000+ viewers at one time. Everything is interactive and the broadcasters usually watch the chat room fill with questions and try to answer them. Not only do all of these networks seem to flock to USTREAM these days, but what made USTREAM so popular in the first place was "during the 2008 United States presidential election, the website was used by nearly all the main candidates to help their campaign, by allowing a larger amount of voters to ask political questions." Now YOU can start your own broadcast from your iPhone. If only it had a front facing camera

All of this seems to coincide with the release of Knocking, and how it somehow removed the rule of "no live streaming" from Apple's List of Commandments. Perhaps this means we will see more apps coming out that support such streaming features. Will they finally loosen those ropes? We'll see, maybe Sling will come back.